Renaissance Technologies LLC raised its stake in shares of Banner Corporation (NASDAQ:BANR) by 136.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,669 shares of the financial services provider’s stock after buying an additional 59,278 shares during the period. Renaissance Technologies LLC owned about 0.31% of Banner Corporation worth $5,713,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the stock. Creative Planning raised its position in shares of Banner Corporation by 0.3% in the first quarter. Creative Planning now owns 1,828 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Banner Corporation during the first quarter valued at approximately $107,000. Ameritas Investment Partners Inc. purchased a new stake in Banner Corporation during the first quarter valued at approximately $144,000. US Bancorp DE boosted its stake in Banner Corporation by 28.5% in the first quarter. US Bancorp DE now owns 3,886 shares of the financial services provider’s stock valued at $216,000 after buying an additional 863 shares during the last quarter. Finally, MUFG Americas Holdings Corp boosted its stake in Banner Corporation by 1.2% in the first quarter. MUFG Americas Holdings Corp now owns 4,043 shares of the financial services provider’s stock valued at $225,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 88.24% of the company’s stock.
Banner Corporation (NASDAQ BANR) traded down 0.78% during midday trading on Friday, reaching $54.49. The company’s stock had a trading volume of 101,119 shares. The firm has a 50 day moving average of $56.45 and a 200 day moving average of $56.14. The firm has a market cap of $1.81 billion, a P/E ratio of 18.98 and a beta of 1.05. Banner Corporation has a 52-week low of $42.13 and a 52-week high of $60.97.
Banner Corporation (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. Banner Corporation had a return on equity of 7.50% and a net margin of 19.63%. The firm had revenue of $122.18 million during the quarter, compared to analysts’ expectations of $119.46 million. Analysts anticipate that Banner Corporation will post $3.09 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th were paid a $1.25 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $5.00 dividend on an annualized basis and a yield of 9.18%. Banner Corporation’s dividend payout ratio (DPR) is presently 34.72%.
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BANR has been the topic of several research reports. BidaskClub upgraded Banner Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research upgraded Banner Corporation from a “sell” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Monday, July 3rd. Finally, Piper Jaffray Companies cut their target price on Banner Corporation from $64.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 17th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $55.75.
In other Banner Corporation news, Director Gary Sirmon sold 3,333 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $55.46, for a total value of $184,848.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 7,005 shares of company stock valued at $392,450 in the last three months. Insiders own 1.71% of the company’s stock.
Banner Corporation Company Profile
Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.
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